Saturday, September 4, 2010

Powerup Capital Review #50

Instaforex has been around since 2007. They are the only broker we know that can help us withdraw our profits into our Maybank2u account. This indeed is very convenient. We can get our withdrawals within 24 hours.

The interesting thing about Instaforex is that when you deposit, the rate would be at 3.7 and when you withdraw, the rate is at 3.6. This broker can give you such high rates is because they do not follow the local Malaysian bank exchange rates.

For example when you deposit USD250, it would cost you RM925. But when you withdraw a profit of USD100, the amount that would appear in your Maybank2u account would be RM360.

The sign up for this broker is very easy as the online agreement with the broker is so good that you do not need to scan your passport and send them a copy of your bank statement to open an account unlike other overseas brokers. You can immediately open an account, deposit, and start trading in 15 mins!

The way to find out if this site is a phishing/scam site or not, you can verify the security by checking this green bar in your internet browser:

A online security certificate is also present to ensure that this site is a legitimate site:

Opening an account with Instaforex is very fast and secure because this is their competitive advantage compared to other brokers. Most importantly, Instaforex has an office in KLCC in case of any disputes. This also gives a local presence of the company in the country they are operating in.

Feel free to visit their office and enroll in an introductory course on how to use their trading platform if you have the time.

The advantage of using Instaforex is that their trading platform is based on the Metatrader 4 platform. They renamed this software to Instatrader for branding purposes.

As you know, the Metatrader 4 platform gives you the opportunity to trade in micro lots (0.01 lots).

When you sign up with Instaforex, you will be given a 30% bonus on top of your deposits. For example, when you deposit USD250, you will be given USD75 as bonus. But wait. There is a catch!. This USD75 bonus cannot be withdrawn out. This bonus would only act as interest free loan money for you to make trades.

The advantage of Instaforex is that they give you a leverage of 1:1000. With this advantage, you do not need a very high margin to trade a major lot. For example, some brokers would require you to set aside 10% of your deposit when you trade a major lot. Brokers in Singapore that offers a leverage of 1:200 would require you to set aside USD100 when you trade 1 mini lot when your total deposit is USD1000. The lower the leverage the higher margin required, hence a higher deposit is required. Not very good for beginners when their trading capital is small.

With high leverage you can place more trades without being tied down by high margins. In other words, you can deposit less than USD1000 and you can be on your way to making major lot trades! Perfect for new traders who are still test driving the forex market.

Instaforex is the only broker we know that offers Swap-Free Forex accounts without any charges. You do not have to pay interests when you hold you positions overnight!

For clients having live accounts from 100 000 USD a protection guarantee is issued by means of segregated Forex accounts.